May 10, 2013 / 6:36 AM / in 5 years

Generali backs any plan that can boost Telecom Italia value

MILAN, May 10 (Reuters) - Italian insurer Generali Chief Executive Mario Greco said he is in favour of any plan that can improve the value of its holding in phone company Telecom Italia.

Telecom Italia is mulling a merger deal with Hutchison Whampoa as well as a possible spin-off of its fixed-line network in order to cut debt and fund costly network upgrades.

“For Telecom, we are obviously interested in keeping informed on the company’s decision and favorable towards any plan that can increase value,” he said on a news call.

“Any sale or merger process takes time. We will wait to hear proposals from upcoming board meetings.” (Reporting by Lisa Jucca, writing by Jennifer Clark)

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